Gold – fresh bulls accelerate and crack important resistance zone

Gold accelerated higher on Friday and broke through the upper boundary of triangle at daily chart ($3327) to crack next significant barrier at $3350 (50% retracement of $3452/$3245 / daily Kijun-sen).

Bounce after double rejection at daily cloud top / psychological support ($3300) extends into third consecutive day and gained pace on Friday, after President Trump surprised markets again on announcement of new tariffs on Canada and threatened other trading partners with further tariffs that fueled safe haven demand.

Technical picture on daily chart is improving (MA’s turning to bullish setup / rising 14-d momentum nears the centreline in attempts to break into positive territory) that paves way for further advance and sustained break of pivotal $3350/65 resistance zone.

In such scenario, bullish failure swing will be completed on daily chart and generate fresh bullish signal for attack at $3373 (Fibo 61.8%) and $3400 (psychological) in extension.

Rising hourly Tenkan-sen offers support at $3341, followed by hourly base at $3331 (also hourly Kijun-sen) where potential dips should find firm ground and keep fresh bulls in play.

Res: 3365; 3373; 3392; 3400
Sup: 3350; 3341; 3331; 3325